DOGE Price Forecast: 1000% Possible Rise
Cryptocurrency DOGE is a favorite of celebrities. It is regularly mentioned in tweets by Elon Musk. Rapper Snoop Dogg was talking about it. In the near future, it may rise by 1000%
Recently, Dogecoin has two more supporters - Vladimir Tenev and Slim Jim. If they popularise the DOGE trend among their supporters, a parabolic breakthrough is possible, which is likely.
The last cryptocurrency market was caused by active promotion by celebrities. The coin took off like a rocket. And although the goal of 1$ was still far, the price of the meme-cryptocurrency has pleased its supporters.
Why do celebrities have a direct influence on DOGE? The "tinkerbell" effect works. The more people believe that DOGE can cost 1 USD, the closer the coin is to its goal.
In addition, Dogecoin - one of the few cryptocurrencies, the price increase of which is directly affected by activity in social networks - memes, emojis with dog Siba-inu and other activity.
Therefore, it is not surprising that the kind words of Vladimir Tenev, CEO of Robinhood, about the Dogecoin did not go unnoticed.
On March 19, Tenev said that DOGE is one of the most promising cryptocurrencies on the crypto market. The coin has a close-knit community that supports cryptocurrency, its members, other projects and individuals.
Suffice it to recall how members of the DOGE community helped send the Jamaican bobsled team to the 2014 Winter Olympics, raising $50,000 in DOGE. Or an equally outstanding example of charity, when about 68 million coins were raised to fund NASCAR driver Josh Wise.
Tenev emphasised his attitude to Dogecoin by getting involved in a Twitter correspondence with Slim Jim. The exchange of memes and posts has not gone unnoticed.
This led to a bullish trend of cryptocurrency. Over the weekend, the price of DOGE rose to $0.0597. This managed to correct the fall from February 1 after a temporary lull in social networks.
Let's look at the 24-hour chart to determine the movement of the token. It shows that at first the coin was traded at $0.057. The direct support level for cryptocurrency is $0.05765. We expect the DOGE market to become bullish.
If Tenev is joined by his supporters, and the coin is supported not only by retail, but also corporate investors, the meme-cryptocurrency can again reach the level of $0.088. This will be followed by a new historical milestone.
Many investors, inspired by the success of cryptocurrency and its acceptable value, can be affected by FOMO. This will make the game even more interesting and will play an important role in the growth of the price of cryptocurrency to 1$ and above.
As events unfold, the price of DOGE can soar by 1000%. As for the $1, the current 160% fibonacci level at $0.96 is achievable in the near future.
For those investors who do not wish to miss out on the benefit, you can recommend the entry into the transaction levels of Fibonacci 127 ($0.252) and 141 ($0.438).
Let's sum it up
Cryptocurrency DOGE has a good perspective. It is important that investors support it in the current optimistic market. This is quite likely, because the price of entry into the deal promises a good profit to investors.
You can always track cryptocurrency prices and trade on the Kraken cryptocurrency exchange. Sign up to buy and sell DOGE safely.
The article has an informational character, reflects the opinion of the author. Before you make a decision, analyze the market situation.